#6 Simple Rules to Build a Successful EnterpriseFor most entrepreneurs, the lessons learnt come through experience and the ability to undertake thorough research

ByAdnan Sarkar

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

graphicstock

Not every successful entrepreneur is a born prodigy. Most of them have achieved their goals in life by their spirit to experiment, their ability to tinker around with projects and the will to accomplish something.

Here are a few tenets to follow that can help determine the success of your business:

Have a Strong Passion for Your Dreams:The beginning step of every business idea is a dream and it is extremely important to have a passion to fulfil that dream. You may have left your cushy job to try your hand at a new experience and no matter how bad it gets, it's this passion that will motivate you to go on every single day. As you move forward, of course, money becomes a crucial point of the journey. Nevertheless, money is not everything and what matters more is holding on to the passion that you made you take the first step.

Look For a Mentor Who Can Guide You:For most entrepreneurs, the lessons learnt come through experience and the ability to undertake thorough research. But it always helps interact with other successful people who have been there, done that. There have been cases of famous entrepreneurs seeking guidance from senior members in the field.Facebook'sMark Zuckerbergwas once mentored bySteve Jobs. Jobs was mentored byMike Markkula —a early investor and executive atApple. AndEric SchmidtmentoredLarry PageandSergey BrinofGoogle. Mentorship is a great way to gain experience from others. Everything you experience in such interactions will help you go a long way.

Plan Well and Execute with Dexterity:As they say, a goal without a plan is just a wish! You will always need to have a well-laid out plan to convert your otherwise intangible innovation assets into well-defined intellectual property to maximise their business value. This plan then becomes a major baseline for monitoring your performance. It lays out targets in all major areas: sales, expense items, hiring positions and financing goals.

Take Criticism Positively:每个企业家面狗万官方临批评贝科use with every success come people, who are all set to point out shortcomings. However, constructive criticism is not an insult and should never be taken personally. In fact, if you are a smart entrepreneur, you will determine how valid the feedback is and how to use it positively to your benefit.

Respect All your Staff:No business is complete without its people. Your staff and team are your biggest assets. It is of seminal importance that you give due respect to your staff –whatever positions they hold – so that they in turn treat the company and the product well.

Expensive Things do not Make a Business:The edifice of a successful business entity is not necessarily built on expensive possessions like a huge office space, pricey furniture or over-priced assets. A strong passion, excessive hardwork and the smartness to excel in the work are what mark the triumph of the venture. Particularly, when things don't go well, it is the passion that will fuel you and keep you going.

In a nutshell, every business is unique, and there is no perfect formula to adhere to. However, following a few simple steps for the course of the business' development can be a great help to make the enterprise a success story.
Wavy Line
Adnan Sarkar

Founder, Dr. Bubbles

Adnan Sarkar discovered the taste of bubble tea on one of his trips to South East Asia. The slight aberration to the experience of drinking tea got the better of him and he realised that it was a drink Mumbai would love to experiment with.
但是,泡沫茶已经首次亮相India by the time Adnan thought of bringing it to the city in 2015. The chains that served it till then hadn't received a very upbeat response from Indians who had typical taste buds when it came to tea.
Nevertheless, the young entrepreneur knew the exact pulse of the tea drinking habits of Indians. He realised that the beverage could find takers in India only if it was tailor made to suit Indian palates.

Related Topics

Finance

A Founder-First VC Firm That Likes Bold Ideas

BEENEXT's funding prospects for the coming year are optimistic as it continues to identify promising founders and their ground-breaking startup ideas.

Business Culture

The Newest Workplace Trend Has HR Sounding The Alarm

HR departments are still figuring out how to handle "quiet quitting," but a new trend is taking over.

Growing a Business

Why Being Profitable is a Business Strategy in Itself

Profitability is a part of the strategic effort to be a hyper-growth, customer-centric and commercially-minded organization. And yes, it's a strategy.

News and Trends

Mondelez India Selects Five Startups For CoLab Accelerator Program

As per an official statement, the startups were handpicked from a competitive pool of over 250 applications across categories like baked snacks, chocolates, confectionery, and savory snacks from all corners of India

Business News

Steve Jobs's Son Is Diving Into Venture Capital — and His Focus Hits Close to Home

Reed Jobs, 31, launched venture capital firm Yosemite, which already boasts $200 million from investors and institutions.

Business News

Body of Missing 27-Year-Old Goldman Sachs Banker Found in Nearby Body of Water

John Castic, a 27-year-old Goldman Sachs employee, went missing around 2:30 a.m. on Saturday after attending a concert at the Brooklyn Mirage in East Williamsburg.